Mercury Systems Inc (NASDAQ:MRCY) Sees Large Decline in Short Interest

Mercury Systems Inc (NASDAQ:MRCY) was the target of a large decline in short interest in January. As of January 30th, there was short interest totaling 3,828,163 shares, a decline of 25.2% from the January 15th total of 5,120,404 shares. Based on an average daily volume of 658,591 shares, the days-to-cover ratio is currently 5.8 days. Approximately 6.5% of the shares of the company are sold short. Approximately 6.5% of the shares of the company are sold short. Based on an average daily volume of 658,591 shares, the days-to-cover ratio is currently 5.8 days.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Truist Financial lifted their target price on Mercury Systems from $102.00 to $109.00 and gave the company a “buy” rating in a research report on Wednesday, February 4th. Canaccord Genuity Group set a $102.00 price target on shares of Mercury Systems in a research note on Wednesday, February 4th. Raymond James Financial reiterated a “strong-buy” rating and set a $100.00 price objective on shares of Mercury Systems in a research report on Wednesday, November 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Mercury Systems in a research note on Thursday, January 22nd. Finally, The Goldman Sachs Group boosted their target price on shares of Mercury Systems from $49.00 to $55.00 and gave the stock a “sell” rating in a research note on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Mercury Systems presently has a consensus rating of “Hold” and a consensus target price of $86.89.

Insider Transactions at Mercury Systems

In related news, Director Jana Partners Management, Lp sold 400,000 shares of the firm’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $81.00, for a total value of $32,400,000.00. Following the transaction, the director owned 4,566,675 shares in the company, valued at approximately $369,900,675. This trade represents a 8.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Mercury Systems

Hedge funds have recently made changes to their positions in the stock. Salomon & Ludwin LLC bought a new stake in Mercury Systems in the third quarter valued at approximately $32,000. Leonteq Securities AG acquired a new position in shares of Mercury Systems in the 4th quarter worth approximately $35,000. Hollencrest Capital Management bought a new stake in shares of Mercury Systems in the 4th quarter valued at $37,000. AlphaQuest LLC increased its position in shares of Mercury Systems by 41.9% during the third quarter. AlphaQuest LLC now owns 569 shares of the technology company’s stock worth $44,000 after buying an additional 168 shares during the period. Finally, Osaic Holdings Inc. raised its stake in Mercury Systems by 53.2% during the second quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock worth $32,000 after buying an additional 208 shares during the last quarter. 95.99% of the stock is currently owned by institutional investors.

Mercury Systems Trading Up 2.6%

MRCY traded up $2.11 during trading on Friday, reaching $82.36. 363,449 shares of the company’s stock were exchanged, compared to its average volume of 772,739. The company has a current ratio of 2.96, a quick ratio of 2.04 and a debt-to-equity ratio of 0.41. Mercury Systems has a one year low of $39.89 and a one year high of $103.84. The firm has a fifty day moving average price of $84.71 and a two-hundred day moving average price of $75.77. The stock has a market capitalization of $4.94 billion, a PE ratio of -155.40, a price-to-earnings-growth ratio of 6.82 and a beta of 0.75.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings results on Tuesday, February 3rd. The technology company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.09. The company had revenue of $232.87 million for the quarter, compared to analyst estimates of $209.96 million. Mercury Systems had a negative net margin of 3.23% and a positive return on equity of 1.28%. Mercury Systems’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.07 earnings per share. As a group, equities research analysts forecast that Mercury Systems will post -0.08 earnings per share for the current fiscal year.

About Mercury Systems

Mercury Systems, Inc (NASDAQ: MRCY) is a technology company that designs, manufactures and markets secure processing subsystems for aerospace and defense applications. The company’s products are built to address the stringent security, safety and reliability requirements of mission-critical programs, with a focus on radar, electronic warfare, intelligence and other sensor and processing functions. Mercury’s offerings encompass rugged embedded computing modules, high-performance radio frequency (RF) and microwave components, digital signal processing subsystems and secure networking solutions.

Since its origins in advanced signal processing, Mercury Systems has expanded its capabilities through a combination of internal development and targeted acquisitions.